06 January 2014, Bank of Mauritius
Members of the public are hereby informed that the Bank of Mauritius (the Bank) will discontinue the publication of the Bank Rate effective 1 July 2014.
The Bank Rate used to be the policy interest rate of the Bank prior to the introduction of the Lombard Rate in December 1999 and, subsequently, the Key Repo Rate in December 2006.
The Bank has continued to publish the Bank Rate on a weekly basis as the interest payable on the Mauritius Development Loan Variable Interest Rate Stocks, issued by the Bank in October 1992 on behalf of the Government of Mauritius, was linked to the Bank Rate. Since these Stocks have already matured, there is no longer any requirement for the Bank to continue with the publication of the Bank Rate.
This Communiqué serves as an advance notice of the Bank’s decision. The Bank wishes to inform members of the public that the Key Repo Rate will continue to be used as the policy interest rate to signal changes in its monetary policy stance.
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